In This Article:
Vancouver, British Columbia--(Newsfile Corp. - January 29, 2025) - Wedgemount Resources Corp. (CSE: WDGY) (OTCQB: WDGRF) ("Wedgemount" or the "Company") is pleased to provide an update on its operations and corporate activities.
Operations Update
Due to extreme cold weather conditions over the past few weeks, Wedgemount proactively shut-in oil production and processing to protect its wells and facilities from potential damage. In light of the return of more seasonal temperatures this week, the Company has resumed production and is once again selling oil.
With the majority of surface facility and compliance work related to the recent Huggy acquisition now complete, the Company will focus on production growth and optimization for the remainder of the year. Efforts will include continued chemical treatments and well workovers to enhance efficiency and output.
Corporate Update
On January 27, 2025, Wedgemount filed both its delayed annual financial statements for the year ended July 31, 2024, the related management discussion and analysis, certifications of the chief executive officer (the CEO) and the chief financial officer (the CFO), and the annual oil and gas filings required under Part 2 of National Instrument 51-101 -- Standards of Disclosure for Oil and Gas Activities for the year ended July 31, 2024 (collectively, the annual filings) as well as its interim financial statement for the three-months ended October 31, 2024, the related management discussion and analysis, and certifications of the CEO and CFO. As a result, the British Columbia Securities Commission (BCSC) issued a revocation of the Company's Management Cease Trade Order (MCTO) on January 28, 2025.
About Wedgemount Resources Corp.
Wedgemount Resources is a junior oil & gas company focused on maximizing shareholder value through the acquisition, development and exploitation of natural resource projects in the southern USA.
On behalf of the Board of Directors,
WEDGEMOUNT RESOURCES CORP.
Mark Vanry, President and CEO
For more information, please contact the Company at:
Telephone: (604) 343-4743
info@wedgemountresources.com
www.wedgemountresources.com
Reader Advisory
This news release may contain statements which constitute "forward-looking information", including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Forward-Looking statements made in this news release include the focus on production optimization for the remainder of the year including chemical treatments and well workovers to enhance efficiency and output. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, availability of funds, personnel and other resources necessary to conduct exploration or development programs, successes of the Company's exploration efforts, availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.